Fisker’s Production Plans and EV Market Competition – A Look Ahead

Fisker earning reports

Fisker Inc. to increase production of Ocean SUV and launch a second vehicle next year, but potential bumps in the road and need for more capital make investors cautious. Full-year spending lower than anticipated, with reservations and orders reaching 65,000. Production forecast for 2023 remains at 42,400 units, but supply chain issues and timing of homologation testing could affect it. While Fisker’s future lineup is promising, investors should be wary of buying on a large one-day pop and wait for a potential pullback.

The company’s Q4 results revealed some misses in their top and bottom line, however, their full-year spending came in below anticipated ranges. Despite reservations and orders reaching approximately 65,000 as of February 24th, investors should remain vigilant for potential challenges and the need for additional capital to get through 2024. Although Fisker’s valuation is promising, with competition in the near future, investors may find a better entry point in the upcoming months.

Fisker (NYE:FSR)remains optimistic about its 2023 production forecast for up to 42,400 units of the Ocean. However, this projection could vary depending on supply chain issues and the timing of homologation testing, which is expected to be completed in March. Once this process is finished, Fisker will be able to sell in over 20 countries, with plans to expand to additional countries in 2024. While Fisker’s future lineup is compelling and the valuation is not terrible, investors should exercise caution when buying on a large one-day pop and wait for a potential pullback if they are looking to invest.

Fisker Inc Stock Forecast

Fisker Inc’s average analyst target price over the next 12 months is estimated to be USD 9.45 with a Buy rating from the analysts. However, according to Stock Target Advisor’s analysis, Fisker Inc’s stock shows Bearish signals with 2 positives and 7 negatives. The current stock price of Fisker Inc is USD 7.40, which has seen a +6.02% change over the past week, a -5.61% change over the past month, and a -38.02% change over the last year.

Company Overview:

Fisker Inc. is an American electric vehicle (EV) manufacturer founded in 2016 by Henrik Fisker, a well-known automotive designer. The company’s goal is to create sustainable and environmentally friendly EVs that are both affordable and stylish. Fisker’s current flagship model is the Ocean, an all-electric SUV that is set to begin production in 2022. The Ocean is expected to have a driving range of up to 300 miles per charge and features such as a solar panel roof, vegan interior, and recycled carpeting made from abandoned fishing nets. Fisker plans to sell the Ocean through a subscription-based model, with a range of flexible pricing options for customers. The company is headquartered in Los Angeles, California, and has additional offices in Denmark and the United Kingdom.

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